| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 509 |
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| 5 | 5 | | To decrease dependency on People’s Republic of China manufacturing and |
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| 6 | 6 | | decrease migration due to lost regional economic opportunities. |
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| 7 | 7 | | IN THE HOUSE OF REPRESENTATIVES |
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| 8 | 8 | | JANUARY16, 2025 |
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| 9 | 9 | | Mr. G |
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| 10 | 10 | | REENof Tennessee introduced the following bill; which was referred to |
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| 11 | 11 | | the Committee on Ways and Means, and in addition to the Committee |
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| 12 | 12 | | on Foreign Affairs, for a period to be subsequently determined by the |
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| 13 | 13 | | Speaker, in each case for consideration of such provisions as fall within |
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| 14 | 14 | | the jurisdiction of the committee concerned |
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| 15 | 15 | | A BILL |
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| 16 | 16 | | To decrease dependency on People’s Republic of China manu- |
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| 17 | 17 | | facturing and decrease migration due to lost regional |
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| 18 | 18 | | economic opportunities. |
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| 19 | 19 | | Be it enacted by the Senate and House of Representa-1 |
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| 20 | 20 | | tives of the United States of America in Congress assembled, 2 |
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| 21 | 21 | | SECTION 1. SHORT TITLE. 3 |
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| 22 | 22 | | This Act may be cited as the ‘‘Western Hemisphere 4 |
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| 23 | 23 | | Nearshoring Act’’. 5 |
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| 24 | 24 | | SEC. 2. FINDINGS. 6 |
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| 25 | 25 | | Congress finds the following: 7 |
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| 28 | 28 | | •HR 509 IH |
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| 29 | 29 | | (1) Our neighbors in the Western Hemisphere 1 |
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| 30 | 30 | | play a vital role in ensuring peace, security, and de-2 |
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| 31 | 31 | | mocracy. 3 |
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| 32 | 32 | | (2) Instability and lack of economic opportuni-4 |
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| 33 | 33 | | ties in the region are major drivers of migration in 5 |
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| 34 | 34 | | violation of the Immigration and Nationality Act. 6 |
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| 35 | 35 | | (3) According to the United States Census Bu-7 |
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| 36 | 36 | | reau, in 2021 the United States exported $174.62 8 |
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| 37 | 37 | | billion worth of goods to Central and South America, 9 |
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| 38 | 38 | | and imported $121 billion. 10 |
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| 39 | 39 | | (4) The United States is a net exporter with 11 |
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| 40 | 40 | | Central and South America. 12 |
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| 41 | 41 | | (5) Economic growth and development of the 13 |
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| 42 | 42 | | Western Hemisphere brings essential strength and 14 |
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| 43 | 43 | | stability to the region. 15 |
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| 44 | 44 | | (6) There is significant opportunity to expand 16 |
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| 45 | 45 | | the free flow of goods and services in the Western 17 |
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| 46 | 46 | | Hemisphere. 18 |
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| 47 | 47 | | (7) Closer relations among the Americas 19 |
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| 48 | 48 | | through free trade agreements and trade liberaliza-20 |
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| 49 | 49 | | tion would encourage further economic development 21 |
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| 50 | 50 | | and stability in the region. 22 |
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| 51 | 51 | | (8) The United States should exercise its influ-23 |
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| 52 | 52 | | ence to encourage privatization, free markets, and 24 |
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| 53 | 53 | | economic cooperation in the region. 25 |
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| 55 | 55 | | ssavage on LAPJG3WLY3PROD with BILLS 3 |
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| 56 | 56 | | •HR 509 IH |
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| 57 | 57 | | (9) Countries in the region should combat cor-1 |
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| 58 | 58 | | ruption, strengthen the rule of law, reduce bureau-2 |
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| 59 | 59 | | cratic red tape, streamline permitting, and embrace 3 |
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| 60 | 60 | | free market principles to encourage further private 4 |
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| 61 | 61 | | sector investment. 5 |
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| 62 | 62 | | (10) With cooperation from the United States, 6 |
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| 63 | 63 | | regional countries must take serious steps to curb 7 |
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| 64 | 64 | | migration in violation of the Immigration and Na-8 |
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| 65 | 65 | | tionality Act. 9 |
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| 66 | 66 | | (11) The Western Hemisphere has supply 10 |
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| 67 | 67 | | chains that are vulnerable due to their over depend-11 |
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| 68 | 68 | | ence on the People’s Republic of China. 12 |
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| 69 | 69 | | (12) Free trade and expanded commercial ties 13 |
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| 70 | 70 | | between the United States and Western Hemisphere 14 |
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| 71 | 71 | | partners will foster economic and commercial co-15 |
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| 72 | 72 | | operation, increase investment opportunities, de-16 |
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| 73 | 73 | | crease migration in violation of the Immigration and 17 |
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| 74 | 74 | | Nationality Act, reduce our dependence on the Peo-18 |
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| 75 | 75 | | ple’s Republic of China, and create jobs for Amer-19 |
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| 76 | 76 | | ican workers. 20 |
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| 78 | 78 | | ssavage on LAPJG3WLY3PROD with BILLS 4 |
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| 79 | 79 | | •HR 509 IH |
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| 80 | 80 | | SEC. 3. USE OF UNITED STATES INTERNATIONAL DEVELOP-1 |
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| 81 | 81 | | MENT FINANCE CORPORATION FUNDS TO FI-2 |
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| 82 | 82 | | NANCE MOVING EXPENSES AND NECESSARY 3 |
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| 83 | 83 | | WORKFORCE DEVELOPMENT COSTS IN-4 |
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| 84 | 84 | | CURRED BY COMPANIES MOVING FROM THE 5 |
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| 85 | 85 | | PEOPLE’S REPUBLIC OF CHINA TO LATIN 6 |
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| 86 | 86 | | AMERICA OR THE CARIBBEAN. 7 |
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| 87 | 87 | | (a) U |
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| 88 | 88 | | SE OFFUNDS.— 8 |
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| 89 | 89 | | (1) I |
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| 90 | 90 | | N GENERAL.—The United States Inter-9 |
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| 91 | 91 | | national Development Finance Corporation, in co-10 |
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| 92 | 92 | | ordination with relevant Federal agencies (including 11 |
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| 93 | 93 | | the United States Trade and Development Agency, 12 |
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| 94 | 94 | | the Export-Import Bank of the United States, the 13 |
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| 95 | 95 | | United States Army Corps of Engineers, and the 14 |
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| 96 | 96 | | United States Agency for International Develop-15 |
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| 97 | 97 | | ment) and the United States Executive Directors of 16 |
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| 98 | 98 | | relevant international financial institutions (includ-17 |
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| 99 | 99 | | ing the World Bank Group, the Inter-American De-18 |
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| 100 | 100 | | velopment Bank, and the International Monetary 19 |
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| 101 | 101 | | Fund), shall use not less than 10 percent of the 20 |
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| 102 | 102 | | amounts made available to provide financing under 21 |
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| 103 | 103 | | section 1421 of the Better Utilization of Investments 22 |
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| 104 | 104 | | Leading to Development Act of 2018 (22 U.S.C. 23 |
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| 105 | 105 | | 9621) for each fiscal year beginning after the date 24 |
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| 106 | 106 | | of the enactment of this Act to finance the qualified 25 |
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| 107 | 107 | | moving costs and necessary workforce development 26 |
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| 109 | 109 | | ssavage on LAPJG3WLY3PROD with BILLS 5 |
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| 110 | 110 | | •HR 509 IH |
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| 111 | 111 | | costs of, and reduce the interest rate on any loan to 1 |
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| 112 | 112 | | be provided by the DFC to the interest rate de-2 |
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| 113 | 113 | | scribed in paragraph (3) to, any qualified corpora-3 |
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| 114 | 114 | | tion that is eligible for, or a recipient of, assistance 4 |
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| 115 | 115 | | from the DFC, to the extent of qualifying applica-5 |
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| 116 | 116 | | tions for assistance under this section. 6 |
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| 117 | 117 | | (2) A |
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| 118 | 118 | | VAILABILITY OF UNUSED AMOUNTS .—If 7 |
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| 119 | 119 | | the DFC does not use the entire amount described 8 |
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| 120 | 120 | | in paragraph (1) for a fiscal year described in such 9 |
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| 121 | 121 | | paragraph, such amount shall, to the maximum ex-10 |
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| 122 | 122 | | tent practicable, be made available to the DFC for 11 |
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| 123 | 123 | | the next fiscal year to carry out this section or other 12 |
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| 124 | 124 | | DFC programs for Latin American or Caribbean 13 |
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| 125 | 125 | | countries. 14 |
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| 126 | 126 | | (3) I |
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| 127 | 127 | | NTEREST RATE DESCRIBED .—The interest 15 |
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| 128 | 128 | | rate described in this paragraph is— 16 |
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| 129 | 129 | | (A) the Federal funds rate; or 17 |
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| 130 | 130 | | (B) the interest rate that is determined by 18 |
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| 131 | 131 | | reducing by not less than |
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| 132 | 132 | | 1 |
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| 133 | 133 | | ⁄2of 1 percent and 19 |
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| 134 | 134 | | not more than 1 percent (but to not less than 20 |
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| 135 | 135 | | zero percent) the interest rate on the loan to be 21 |
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| 136 | 136 | | provided by the DFC to the qualified corpora-22 |
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| 137 | 137 | | tion, 23 |
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| 138 | 138 | | whichever is the lesser. 24 |
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| 141 | 141 | | •HR 509 IH |
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| 142 | 142 | | (b) NONEGATIVEEFFECTS ONEMPLOYMENT IN 1 |
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| 143 | 143 | | THEUNITEDSTATES.—The DFC shall not provide assist-2 |
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| 144 | 144 | | ance under this section unless the Secretary of Commerce 3 |
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| 145 | 145 | | has determined that the provision of the assistance would 4 |
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| 146 | 146 | | not result in a negative effect on employment in the 5 |
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| 147 | 147 | | United States. 6 |
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| 148 | 148 | | (c) D |
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| 149 | 149 | | ISPOSITION OFUNUSEDASSISTANCE.—A cor-7 |
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| 150 | 150 | | poration to which financing is made under this section 8 |
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| 151 | 151 | | shall remit to the DFC any portion of the assistance that 9 |
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| 152 | 152 | | is not expended within a period of time after the date the 10 |
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| 153 | 153 | | financing is made that is determined by the DFC on a 11 |
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| 154 | 154 | | case-by-case basis. 12 |
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| 155 | 155 | | (d) C |
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| 156 | 156 | | ONDITIONS ON PROVISION OFLOANS.—The 13 |
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| 157 | 157 | | DFC— 14 |
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| 158 | 158 | | (1) may provide loans under this section to a 15 |
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| 159 | 159 | | corporation only if the loans are commercially viable, 16 |
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| 160 | 160 | | as determined by the DFC; and 17 |
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| 161 | 161 | | (2) shall determine an appropriate amount of 18 |
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| 162 | 162 | | time for repayment of loans under this section to a 19 |
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| 163 | 163 | | corporation. 20 |
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| 164 | 164 | | (e) P |
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| 165 | 165 | | LAN.—Not later than 180 days after the date 21 |
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| 166 | 166 | | of the enactment of this Act, the DFC shall develop and 22 |
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| 167 | 167 | | submit to the Committee on Foreign Affairs of the House 23 |
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| 168 | 168 | | of Representatives and the Committee on Foreign Rela-24 |
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| 169 | 169 | | tions of the Senate a plan to streamline the provision of 25 |
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| 171 | 171 | | ssavage on LAPJG3WLY3PROD with BILLS 7 |
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| 172 | 172 | | •HR 509 IH |
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| 173 | 173 | | assistance under this section, including to expedite the ap-1 |
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| 174 | 174 | | proval process for the provision of such assistance. 2 |
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| 175 | 175 | | SEC. 4. AUTHORITY TO PROVIDE DUTY-FREE TREATMENT 3 |
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| 176 | 176 | | FOR GOODS AND SERVICES OF COMPANIES 4 |
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| 177 | 177 | | MOVING FROM THE PEOPLE’S REPUBLIC OF 5 |
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| 178 | 178 | | CHINA TO LATIN AMERICA OR THE CARIB-6 |
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| 179 | 179 | | BEAN. 7 |
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| 180 | 180 | | (a) I |
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| 181 | 181 | | NGENERAL.—Notwithstanding any other provi-8 |
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| 182 | 182 | | sion of law, the President shall proclaim duty-free treat-9 |
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| 183 | 183 | | ment (or other preferential treatment) for any good or 10 |
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| 184 | 184 | | service made or produced in a Latin American or Carib-11 |
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| 185 | 185 | | bean country by a qualified corporation that has received 12 |
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| 186 | 186 | | assistance under section 3, subject to such terms and con-13 |
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| 187 | 187 | | ditions as the President determines to be appropriate. 14 |
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| 188 | 188 | | (b) R |
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| 189 | 189 | | EGULATIONS.—The President shall prescribe 15 |
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| 190 | 190 | | such regulations as may be necessary to carry out this 16 |
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| 191 | 191 | | section. 17 |
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| 192 | 192 | | (c) E |
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| 193 | 193 | | FFECTIVEPERIOD.— 18 |
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| 194 | 194 | | (1) I |
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| 195 | 195 | | N GENERAL.—Subsection (a) shall apply 19 |
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| 196 | 196 | | with respect to a good or service made or produced 20 |
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| 197 | 197 | | in a Latin American or Caribbean country by a cor-21 |
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| 198 | 198 | | poration for the 15-year period beginning on the 22 |
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| 199 | 199 | | date on which the corporation begins operations in 23 |
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| 200 | 200 | | such country. 24 |
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| 203 | 203 | | •HR 509 IH |
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| 204 | 204 | | (2) RULE OF CONSTRUCTION .—Nothing in this 1 |
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| 205 | 205 | | section may be construed to affect duty-free treat-2 |
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| 206 | 206 | | ment (or other preferential treatment) for any good 3 |
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| 207 | 207 | | or service made or produced in a Latin American or 4 |
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| 208 | 208 | | Caribbean country by a qualified corporation after 5 |
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| 209 | 209 | | the 15-year period described in paragraph (1) if 6 |
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| 210 | 210 | | goods and services from such country are otherwise 7 |
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| 211 | 211 | | generally eligible for duty-free treatment (or other 8 |
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| 212 | 212 | | preferential treatment). 9 |
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| 213 | 213 | | SEC. 5. ADDITIONAL CONDITIONS ON RECEIPT OF ASSIST-10 |
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| 214 | 214 | | ANCE UNDER SECTION 3 AND DUTY-FREE 11 |
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| 215 | 215 | | TREATMENT (OR OTHER PREFERENTIAL 12 |
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| 216 | 216 | | TREATMENT) UNDER SECTION 4. 13 |
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| 217 | 217 | | (a) I |
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| 218 | 218 | | NGENERAL.—The appropriate Federal agency 14 |
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| 219 | 219 | | may not provide assistance under section 3 or duty-free 15 |
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| 220 | 220 | | treatment (or other preferential treatment) under section 16 |
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| 221 | 221 | | 4 to a corporation unless— 17 |
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| 222 | 222 | | (1) the agency determines that the corporation 18 |
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| 223 | 223 | | will create jobs in the Latin American or Caribbean 19 |
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| 224 | 224 | | country to which it moves operations in numbers de-20 |
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| 225 | 225 | | termined by the agency to be commensurate with the 21 |
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| 226 | 226 | | assistance provided; 22 |
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| 227 | 227 | | (2) the corporation makes a binding commit-23 |
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| 228 | 228 | | ment to the agency that on and after the date the 24 |
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| 229 | 229 | | assistance is provided— 25 |
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| 232 | 232 | | •HR 509 IH |
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| 233 | 233 | | (A) the corporation will not come under 1 |
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| 234 | 234 | | the ownership or control of the Government of 2 |
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| 235 | 235 | | the People’s Republic of China or the Chinese 3 |
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| 236 | 236 | | Communist Party, the Government of the Rus-4 |
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| 237 | 237 | | sian Federation, or any other foreign adversary; 5 |
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| 238 | 238 | | and 6 |
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| 239 | 239 | | (B) the corporation will not have its head-7 |
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| 240 | 240 | | quarters in the People’s Republic of China, the 8 |
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| 241 | 241 | | Russian Federation, or any other foreign adver-9 |
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| 242 | 242 | | sary; 10 |
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| 243 | 243 | | (3) within 2 years after the date described in 11 |
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| 244 | 244 | | paragraph (2), and subject to an additional exten-12 |
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| 245 | 245 | | sion as determined appropriate by the agency, all as-13 |
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| 246 | 246 | | sets of the corporation with respect to which the as-14 |
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| 247 | 247 | | sistance is provided will have been moved from the 15 |
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| 248 | 248 | | People’s Republic of China to a Latin American or 16 |
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| 249 | 249 | | Caribbean country; and 17 |
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| 250 | 250 | | (4) the corporation retains all assets of the cor-18 |
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| 251 | 251 | | poration with respect to which the assistance is pro-19 |
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| 252 | 252 | | vided in a Latin American or Caribbean country 20 |
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| 253 | 253 | | after the date described in paragraph (2) or the last 21 |
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| 254 | 254 | | day of the extension described in paragraph (3), as 22 |
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| 255 | 255 | | the case may be. 23 |
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| 256 | 256 | | (b) C |
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| 257 | 257 | | OMPLIANCEDETERMINATIONS.— 24 |
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| 259 | 259 | | ssavage on LAPJG3WLY3PROD with BILLS 10 |
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| 260 | 260 | | •HR 509 IH |
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| 261 | 261 | | (1) IN GENERAL.—The appropriate Federal 1 |
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| 262 | 262 | | agency, in coordination with the Department of 2 |
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| 263 | 263 | | State, shall make all determinations regarding com-3 |
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| 264 | 264 | | pliance with the provisions of subsection (a). 4 |
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| 265 | 265 | | (2) N |
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| 266 | 266 | | ON-COMPLIANCE ACTIONS .—A qualified 5 |
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| 267 | 267 | | corporation that has received assistance under sec-6 |
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| 268 | 268 | | tion 3 or duty-free treatment (or other preferential 7 |
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| 269 | 269 | | treatment) under section 4 that is subsequently de-8 |
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| 270 | 270 | | termined by the appropriate Federal agency not to 9 |
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| 271 | 271 | | be in compliance with the provisions of subsection 10 |
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| 272 | 272 | | (a) shall be subject to the following actions: 11 |
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| 273 | 273 | | (A) Any good or service made or produced 12 |
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| 274 | 274 | | in a Latin American or Caribbean country by 13 |
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| 275 | 275 | | the corporation (other than a good or service 14 |
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| 276 | 276 | | made or produced in a free trade zone or which 15 |
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| 277 | 277 | | is subject to benefits under a free trade agree-16 |
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| 278 | 278 | | ment) shall not be eligible for duty-free treat-17 |
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| 279 | 279 | | ment (or other preferential treatment) under 18 |
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| 280 | 280 | | section 4. 19 |
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| 281 | 281 | | (B) The appropriate Federal agency shall 20 |
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| 282 | 282 | | adjust the interest rate on any loan to be pro-21 |
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| 283 | 283 | | vided by the agency to the corporation to the 22 |
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| 284 | 284 | | prevailing market interest rate. 23 |
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| 287 | 287 | | •HR 509 IH |
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| 288 | 288 | | (c) APPROPRIATEFEDERALAGENCYDEFINED.—In 1 |
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| 289 | 289 | | this section, the term ‘‘appropriate Federal agency’’ 2 |
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| 290 | 290 | | means— 3 |
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| 291 | 291 | | (1) with respect to actions relating to assistance 4 |
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| 292 | 292 | | under section 3, the DFC; and 5 |
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| 293 | 293 | | (2) with respect to actions relating to duty-free 6 |
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| 294 | 294 | | treatment (or other preferential treatment) under 7 |
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| 295 | 295 | | section 4, the United States Trade Representative. 8 |
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| 296 | 296 | | SEC. 6. EXPENSES PAID FOR WITH TARIFFS COLLECTED 9 |
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| 297 | 297 | | FROM THE PEOPLE’S REPUBLIC OF CHINA. 10 |
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| 298 | 298 | | (a) E |
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| 299 | 299 | | STABLISHMENT OF TRUSTFUND.—There is es-11 |
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| 300 | 300 | | tablished in the Treasury of the United States a trust fund 12 |
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| 301 | 301 | | consisting of such amounts as are appropriated to such 13 |
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| 302 | 302 | | trust fund under subsection (b). 14 |
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| 303 | 303 | | (b) A |
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| 304 | 304 | | PPROPRIATIONS TO TRUSTFUND.—There are 15 |
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| 305 | 305 | | hereby appropriated to such trust fund amounts equiva-16 |
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| 306 | 306 | | lent to the tariffs collected by the United States on goods 17 |
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| 307 | 307 | | manufactured in the People’s Republic of China. 18 |
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| 308 | 308 | | (c) A |
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| 309 | 309 | | PPROPRIATIONSFROMTRUSTFUND.—There 19 |
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| 310 | 310 | | are hereby appropriated from such trust fund to the Gen-20 |
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| 311 | 311 | | eral Fund of the Treasury amounts equivalent to the re-21 |
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| 312 | 312 | | duction in revenue to such General Fund by reason of as-22 |
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| 313 | 313 | | sistance provided by the DFC under this Act. 23 |
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| 314 | 314 | | (d) T |
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| 315 | 315 | | IMING OFTRANSFERS, ETC.—Rules similar to 24 |
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| 316 | 316 | | the rules of section 9601 of the Internal Revenue Code 25 |
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| 319 | 319 | | •HR 509 IH |
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| 320 | 320 | | of 1986 shall apply with respect to appropriations to and 1 |
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| 321 | 321 | | from such trust fund under subsections (b) and (c). 2 |
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| 322 | 322 | | SEC. 7. AMENDMENTS TO THE BUILD ACT OF 2018. 3 |
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| 323 | 323 | | (a) S |
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| 324 | 324 | | TATEMENT OF POLICY.—Section 1411 of the 4 |
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| 325 | 325 | | Better Utilization of Investments Leading to Development 5 |
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| 326 | 326 | | Act of 2018 (22 U.S.C. 9611) is amended— 6 |
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| 327 | 327 | | (1) in paragraph (7), by striking ‘‘and’’ at the 7 |
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| 328 | 328 | | end; 8 |
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| 329 | 329 | | (2) in paragraph (8), by striking the period at 9 |
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| 330 | 330 | | the end and inserting a semicolon; and 10 |
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| 331 | 331 | | (3) by adding at the end the following: 11 |
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| 332 | 332 | | ‘‘(9) to further United States economic growth 12 |
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| 333 | 333 | | by prioritizing United States-owned businesses in 13 |
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| 334 | 334 | | providing support under title II; and 14 |
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| 335 | 335 | | ‘‘(10) to further United States national security 15 |
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| 336 | 336 | | by prioritizing the production of goods in critical in-16 |
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| 337 | 337 | | dustries, as determined by the Corporation, in con-17 |
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| 338 | 338 | | sultation with the Department of Homeland Secu-18 |
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| 339 | 339 | | rity.’’. 19 |
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| 340 | 340 | | (b) P |
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| 341 | 341 | | ROHIBITION ONSUPPORT FORSTATE-OWNED 20 |
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| 342 | 342 | | E |
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| 343 | 343 | | NTERPRISES.— 21 |
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| 344 | 344 | | (1) I |
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| 345 | 345 | | N GENERAL.—Title V of the Better Utili-22 |
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| 346 | 346 | | zation of Investments Leading to Development Act 23 |
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| 347 | 347 | | of 2018 (22 U.S.C. 9671 et seq.) is amended by 24 |
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| 348 | 348 | | adding at the end the following: 25 |
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| 351 | 351 | | •HR 509 IH |
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| 352 | 352 | | ‘‘SEC. 1455. PROHIBITION ON SUPPORT FOR ENTITIES 1 |
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| 353 | 353 | | OWNED OR CONTROLLED BY FOREIGN GOV-2 |
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| 354 | 354 | | ERNMENTS. 3 |
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| 355 | 355 | | ‘‘(a) I |
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| 356 | 356 | | NGENERAL.—Except as provided in subsection 4 |
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| 357 | 357 | | (b), the Corporation is prohibited from providing support 5 |
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| 358 | 358 | | under title II for an entity owned or controlled by a for-6 |
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| 359 | 359 | | eign government. 7 |
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| 360 | 360 | | ‘‘(b) E |
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| 361 | 361 | | XCEPTION.— 8 |
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| 362 | 362 | | ‘‘(1) I |
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| 363 | 363 | | N GENERAL.—The Corporation may pro-9 |
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| 364 | 364 | | vide feasibility studies and technical assistance 10 |
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| 365 | 365 | | under title II for an entity owned or controlled by 11 |
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| 366 | 366 | | a foreign government that is not a foreign adversary. 12 |
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| 367 | 367 | | ‘‘(2) F |
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| 368 | 368 | | OREIGN ADVERSARY DEFINED .—In this 13 |
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| 369 | 369 | | subsection, the term ‘foreign adversary’ means a for-14 |
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| 370 | 370 | | eign government engaged in a long-term pattern or 15 |
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| 371 | 371 | | serious instances of conduct significantly adverse to 16 |
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| 372 | 372 | | the national security of the United States or security 17 |
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| 373 | 373 | | and safety of United States persons.’’. 18 |
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| 374 | 374 | | (2) C |
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| 375 | 375 | | LERICAL AMENDMENT .—The table of con-19 |
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| 376 | 376 | | tents for the FAA Reauthorization Act of 2018 (49 20 |
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| 377 | 377 | | U.S.C. 40101 note) is amended by inserting after 21 |
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| 378 | 378 | | the item relating to section 1454 the following: 22 |
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| 379 | 379 | | ‘‘Sec. 1455. Prohibition on support for entities owned or controlled by foreign |
|---|
| 380 | 380 | | governments.’’. |
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| 381 | 381 | | VerDate Sep 11 2014 17:01 Feb 12, 2025 Jkt 059200 PO 00000 Frm 00013 Fmt 6652 Sfmt 6211 E:\BILLS\H509.IH H509 |
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| 383 | 383 | | •HR 509 IH |
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| 384 | 384 | | SEC. 8. TRADE NEGOTIATING AUTHORITY. 1 |
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| 385 | 385 | | (a) I |
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| 386 | 386 | | NGENERAL.—The United States Trade Rep-2 |
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| 387 | 387 | | resentative shall take action to initiate negotiations to ob-3 |
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| 388 | 388 | | tain trade agreements with each Latin American or Carib-4 |
|---|
| 389 | 389 | | bean country that as of the date of the enactment of this 5 |
|---|
| 390 | 390 | | Act is not a party to a free trade agreement with the 6 |
|---|
| 391 | 391 | | United States if the country meets the conditions de-7 |
|---|
| 392 | 392 | | scribed in subsection (b). 8 |
|---|
| 393 | 393 | | (b) C |
|---|
| 394 | 394 | | ONDITIONSDESCRIBED.—The conditions de-9 |
|---|
| 395 | 395 | | scribed in this subsection are the following: 10 |
|---|
| 396 | 396 | | (1) The country is taking steps to reduce mi-11 |
|---|
| 397 | 397 | | gration in violation of the Immigration and Nation-12 |
|---|
| 398 | 398 | | ality Act. 13 |
|---|
| 399 | 399 | | (2) The country is taking steps to reduce eco-14 |
|---|
| 400 | 400 | | nomic dependence on the People’s Republic of 15 |
|---|
| 401 | 401 | | China. 16 |
|---|
| 402 | 402 | | (3) The country allows Taiwan to establish and 17 |
|---|
| 403 | 403 | | maintain a commercial office in the country. 18 |
|---|
| 404 | 404 | | SEC. 9. AGREEMENTS FOR COOPERATION PURSUANT TO 19 |
|---|
| 405 | 405 | | SECTION 123 OF THE ATOMIC ENERGY ACT 20 |
|---|
| 406 | 406 | | OF 1954. 21 |
|---|
| 407 | 407 | | (a) I |
|---|
| 408 | 408 | | NGENERAL.—The President is authorized to 22 |
|---|
| 409 | 409 | | take action to initiate negotiations with Latin American 23 |
|---|
| 410 | 410 | | and Caribbean countries to obtain agreements for coopera-24 |
|---|
| 411 | 411 | | tion pursuant to section 123 of the Atomic Energy Act 25 |
|---|
| 412 | 412 | | of 1954 (42 U.S.C. 2153) to approve the sales of nuclear 26 |
|---|
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| 415 | 415 | | •HR 509 IH |
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| 416 | 416 | | reactors to such countries, or to qualified corporations 1 |
|---|
| 417 | 417 | | that receive assistance under this Act, but only if— 2 |
|---|
| 418 | 418 | | (1) the President determines that such sales 3 |
|---|
| 419 | 419 | | will not threaten the national security of the United 4 |
|---|
| 420 | 420 | | States; and 5 |
|---|
| 421 | 421 | | (2) the countries or qualified corporations, as 6 |
|---|
| 422 | 422 | | the case may be, meet the conditions described in 7 |
|---|
| 423 | 423 | | paragraphs (1), (2), and (3) of section 8(b). 8 |
|---|
| 424 | 424 | | (b) T |
|---|
| 425 | 425 | | ECHNICALASSISTANCE ANDEXPERTISE.—The 9 |
|---|
| 426 | 426 | | Administrator of the United States Agency for Inter-10 |
|---|
| 427 | 427 | | national Development, in consultation with the Secretary 11 |
|---|
| 428 | 428 | | of Energy and the DFC, may provide technical assistance 12 |
|---|
| 429 | 429 | | and expertise in electrical grid and energy efficiency im-13 |
|---|
| 430 | 430 | | provements related to sales under subsection (a), as appro-14 |
|---|
| 431 | 431 | | priate. 15 |
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| 432 | 432 | | SEC. 10. TEMPORARY INCREASED EXPENSING FOR RELO-16 |
|---|
| 433 | 433 | | CATING MANUFACTURING FROM THE PEO-17 |
|---|
| 434 | 434 | | PLE’S REPUBLIC OF CHINA TO A LATIN 18 |
|---|
| 435 | 435 | | AMERICAN OR CARIBBEAN COUNTRY. 19 |
|---|
| 436 | 436 | | (a) I |
|---|
| 437 | 437 | | NGENERAL.—For purposes of section 168(k) of 20 |
|---|
| 438 | 438 | | the Internal Revenue Code of 1986, in the case of any 21 |
|---|
| 439 | 439 | | qualified relocated manufacturing property which is placed 22 |
|---|
| 440 | 440 | | in service by a qualified manufacturer after the date of 23 |
|---|
| 441 | 441 | | the enactment of this Act, and before January 1, 2038— 24 |
|---|
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| 444 | 444 | | •HR 509 IH |
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| 445 | 445 | | (1) such property shall be treated as qualified 1 |
|---|
| 446 | 446 | | property (within the meaning of such section), 2 |
|---|
| 447 | 447 | | (2) the applicable percentage otherwise deter-3 |
|---|
| 448 | 448 | | mined under paragraph (6) of such section with re-4 |
|---|
| 449 | 449 | | spect to such property shall be 75 percent, and 5 |
|---|
| 450 | 450 | | (3) paragraphs (8) and (10) of such section 6 |
|---|
| 451 | 451 | | shall not apply. 7 |
|---|
| 452 | 452 | | (b) Q |
|---|
| 453 | 453 | | UALIFIEDRELOCATEDMANUFACTURINGPROP-8 |
|---|
| 454 | 454 | | ERTY.—For purposes of this section— 9 |
|---|
| 455 | 455 | | (1) I |
|---|
| 456 | 456 | | N GENERAL.—The term ‘‘qualified relo-10 |
|---|
| 457 | 457 | | cated manufacturing property’’ means qualified 11 |
|---|
| 458 | 458 | | property (within the meaning of section 168(k) of 12 |
|---|
| 459 | 459 | | such Code) or nonresidential real property (as de-13 |
|---|
| 460 | 460 | | fined in section 168(e)(2)(B) of such Code) which 14 |
|---|
| 461 | 461 | | is— 15 |
|---|
| 462 | 462 | | (A) placed in service in a Latin American 16 |
|---|
| 463 | 463 | | or Caribbean country by a qualified manufac-17 |
|---|
| 464 | 464 | | turer, and 18 |
|---|
| 465 | 465 | | (B) is acquired by such qualified manufac-19 |
|---|
| 466 | 466 | | turer in connection with a qualified relocation 20 |
|---|
| 467 | 467 | | of manufacturing. 21 |
|---|
| 468 | 468 | | (2) Q |
|---|
| 469 | 469 | | UALIFIED RELOCATION OF MANUFAC -22 |
|---|
| 470 | 470 | | TURING.— 23 |
|---|
| 471 | 471 | | (A) I |
|---|
| 472 | 472 | | N GENERAL.—The term ‘‘qualified re-24 |
|---|
| 473 | 473 | | location of manufacturing’’ means, with respect 25 |
|---|
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| 475 | 475 | | ssavage on LAPJG3WLY3PROD with BILLS 17 |
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| 476 | 476 | | •HR 509 IH |
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| 477 | 477 | | to any qualified manufacturer, the relocation of 1 |
|---|
| 478 | 478 | | the manufacturing of any tangible personal 2 |
|---|
| 479 | 479 | | property from the People’s Republic of China to 3 |
|---|
| 480 | 480 | | a Latin American or Caribbean country. 4 |
|---|
| 481 | 481 | | (B) R |
|---|
| 482 | 482 | | ELOCATION OF PROPERTY NOT RE -5 |
|---|
| 483 | 483 | | QUIRED.—For purposes of subparagraph (A), 6 |
|---|
| 484 | 484 | | manufacturing shall not fail to be treated as re-7 |
|---|
| 485 | 485 | | located merely because property used in such 8 |
|---|
| 486 | 486 | | manufacturing was not relocated. 9 |
|---|
| 487 | 487 | | (C) R |
|---|
| 488 | 488 | | ELOCATION OF NOT LESS THAN 10 |
|---|
| 489 | 489 | | EQUIVALENT PRODUCTIVE CAPACITY RE -11 |
|---|
| 490 | 490 | | QUIRED.—For purposes of subparagraph (A), 12 |
|---|
| 491 | 491 | | manufacturing shall not be treated as relocated 13 |
|---|
| 492 | 492 | | unless the property manufactured in a Latin 14 |
|---|
| 493 | 493 | | American or Caribbean country is substantially 15 |
|---|
| 494 | 494 | | identical to the property previously manufac-16 |
|---|
| 495 | 495 | | tured in the People’s Republic of China and the 17 |
|---|
| 496 | 496 | | increase in the units of production of such 18 |
|---|
| 497 | 497 | | property in a Latin American or Caribbean 19 |
|---|
| 498 | 498 | | country by the qualified manufacturer is not 20 |
|---|
| 499 | 499 | | less than the reduction in the units of produc-21 |
|---|
| 500 | 500 | | tion of such property by such qualified manu-22 |
|---|
| 501 | 501 | | facturer in the People’s Republic of China. 23 |
|---|
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| 504 | 504 | | •HR 509 IH |
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| 505 | 505 | | (c) QUALIFIEDMANUFACTURER.—For purposes of 1 |
|---|
| 506 | 506 | | this section, the term ‘‘qualified manufacturer’’ means any 2 |
|---|
| 507 | 507 | | person— 3 |
|---|
| 508 | 508 | | (1) which is engaged in the trade or business of 4 |
|---|
| 509 | 509 | | manufacturing any tangible personal property, 5 |
|---|
| 510 | 510 | | (2) with respect to which the Secretary of the 6 |
|---|
| 511 | 511 | | Treasury (or the Secretary’s delegate) has made the 7 |
|---|
| 512 | 512 | | determination described in section 5(a)(1), and 8 |
|---|
| 513 | 513 | | (3) which has entered into a binding agreement 9 |
|---|
| 514 | 514 | | with such Secretary (or such delegate) to meet the 10 |
|---|
| 515 | 515 | | requirements of section 5(a)(2) which is enforceable 11 |
|---|
| 516 | 516 | | under terms similar to the terms of section 5(b). 12 |
|---|
| 517 | 517 | | SEC. 11. DEFINITIONS. 13 |
|---|
| 518 | 518 | | In this Act: 14 |
|---|
| 519 | 519 | | (1) DFC.—The term ‘‘DFC’’ means the United 15 |
|---|
| 520 | 520 | | States International Development Finance Corpora-16 |
|---|
| 521 | 521 | | tion. 17 |
|---|
| 522 | 522 | | (2) Q |
|---|
| 523 | 523 | | UALIFIED CORPORATION .—The term 18 |
|---|
| 524 | 524 | | ‘‘qualified corporation’’ does not include a State- 19 |
|---|
| 525 | 525 | | owned enterprise. 20 |
|---|
| 526 | 526 | | (3) Q |
|---|
| 527 | 527 | | UALIFIED MOVING COSTS DEFINED .—The 21 |
|---|
| 528 | 528 | | term ‘‘qualified moving costs’’ means— 22 |
|---|
| 529 | 529 | | (A) the costs of moving inventory, equip-23 |
|---|
| 530 | 530 | | ment, and supplies from the People’s Republic 24 |
|---|
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| 533 | 533 | | •HR 509 IH |
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| 534 | 534 | | of China to a Latin American or Caribbean 1 |
|---|
| 535 | 535 | | country; and 2 |
|---|
| 536 | 536 | | (B) the costs of workforce development 3 |
|---|
| 537 | 537 | | and construction of facilities. 4 |
|---|
| 538 | 538 | | (4) L |
|---|
| 539 | 539 | | ATIN AMERICAN OR CARIBBEAN COUNTRY ; 5 |
|---|
| 540 | 540 | | WESTERN HEMISPHERE .— 6 |
|---|
| 541 | 541 | | (A) I |
|---|
| 542 | 542 | | N GENERAL.—The terms ‘‘Latin 7 |
|---|
| 543 | 543 | | American or Caribbean country’’ and ‘‘Western 8 |
|---|
| 544 | 544 | | Hemisphere’’— 9 |
|---|
| 545 | 545 | | (i) mean a country in the Caribbean 10 |
|---|
| 546 | 546 | | Sea, South America, or Central America, 11 |
|---|
| 547 | 547 | | and Mexico; and 12 |
|---|
| 548 | 548 | | (ii) except as provided in subpara-13 |
|---|
| 549 | 549 | | graph (B), do not include Cuba or Ven-14 |
|---|
| 550 | 550 | | ezuela. 15 |
|---|
| 551 | 551 | | (B) E |
|---|
| 552 | 552 | | XCEPTION.—The term ‘‘Latin Amer-16 |
|---|
| 553 | 553 | | ican or Caribbean country’’ shall include Cuba 17 |
|---|
| 554 | 554 | | or Venezuela if the Secretary of State deter-18 |
|---|
| 555 | 555 | | mines and certifies to Congress that— 19 |
|---|
| 556 | 556 | | (i) the government of such country— 20 |
|---|
| 557 | 557 | | (I) has held free and fair presi-21 |
|---|
| 558 | 558 | | dential and legislative elections, as de-22 |
|---|
| 559 | 559 | | termined by independent international 23 |
|---|
| 560 | 560 | | observers, and subsequent elections 24 |
|---|
| 561 | 561 | | are scheduled; 25 |
|---|
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| 564 | 564 | | •HR 509 IH |
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| 565 | 565 | | (II) respects and upholds human 1 |
|---|
| 566 | 566 | | rights; 2 |
|---|
| 567 | 567 | | (III) is taking significant steps to 3 |
|---|
| 568 | 568 | | privatize its economy and institute a 4 |
|---|
| 569 | 569 | | free market; 5 |
|---|
| 570 | 570 | | (IV) permits the international 6 |
|---|
| 571 | 571 | | community to provide humanitarian, 7 |
|---|
| 572 | 572 | | governance, and economic develop-8 |
|---|
| 573 | 573 | | ment assistance; 9 |
|---|
| 574 | 574 | | (V) has freed all unlawfully de-10 |
|---|
| 575 | 575 | | tained United States citizens, legal 11 |
|---|
| 576 | 576 | | permanent residents, and political 12 |
|---|
| 577 | 577 | | prisoners; and 13 |
|---|
| 578 | 578 | | (VI) has expelled all security 14 |
|---|
| 579 | 579 | | services from foreign adversaries from 15 |
|---|
| 580 | 580 | | the country; and 16 |
|---|
| 581 | 581 | | (ii) the prior authorities of such coun-17 |
|---|
| 582 | 582 | | try have renounced their illegitimate claim 18 |
|---|
| 583 | 583 | | to power. 19 |
|---|
| 584 | 584 | | (5) F |
|---|
| 585 | 585 | | EDERAL FUNDS RATE .—The term ‘‘Fed-20 |
|---|
| 586 | 586 | | eral funds rate’’ means the discount window primary 21 |
|---|
| 587 | 587 | | credit interest rate most recently published on the 22 |
|---|
| 588 | 588 | | Federal Reserve Statistical Release on selected inter-23 |
|---|
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| 591 | 591 | | •HR 509 IH |
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| 592 | 592 | | est rates (daily or weekly), commonly referred to as 1 |
|---|
| 593 | 593 | | the H.15 release. 2 |
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| 594 | 594 | | Æ |
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